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FIT - Fitbit Is Executing Its Strategy: Time Will Tell
Fitbit Inc. Class A
Fitbit stock (NYSE:FIT) surged in the first part of this year, up to touch $7 the day before its fourth quarter release. It was a wild rally (almost +50% in just two months!) started during last Christmas Eve, when FIT was trading close to its historical low, at about $4.8 per share.
Source: Yahoo Finance
This tells us a lot about the potential upside of the stock, whose price is compressed by a high short interest ratio.
However, after such an impressive run, traders decided to cash out, following the FY